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Affle 3i Limited (AFFLE) Fair Value & Analysis

Communication Services · IN · Market cap ₹203B

A3 Affle 3i Limited AFFLE · NSE
Price₹1,643
Fair Value₹611.48
Upside-62.8%
Quality59/100
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Healthy Growth
Solidly profitable · 16.8% net margin
Low debt · generates free cash flow
Ranks above peers (8/13)
Moderate moat 61/100
Evidence: High Range ₹476.65 – ₹741.61 Share as image

Fair value as of: Aug 13, 2026

From 26 valuation models · updated today

Share price +8.3% over the past month.

A solid business, but screening 63% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (₹741.61). The favourable scenario is already priced in.
  • Solid but not exceptional quality (59/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

₹2,147 ₹767.23 Fair Value ₹611.48 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range ₹767.23 – ₹2,147 · fair‑value band ₹476.65 – ₹741.61 · the ₹1,643 price screens above the ₹611.48 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Affle 3i Limited (AFFLE) currently trades at ₹1,643, while our model-based Fair Value estimate is ₹611.48, implying the stock looks roughly 62.8% overvalued today. The Quality Score stands at 59/100 (solid quality), in the Communication Services sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Affle 3i Limited generated revenue of ₹27.1B at a net margin of 16.8%. Revenue grew 20.3% year over year. It earns a return on equity of 13.8%. The balance sheet holds a net cash position of ₹12.8B. Fundamentals as of Aug 13, 2026

Our scenario range runs from ₹476.65 (bear case) to ₹741.61 (bull case); at ₹1,643, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 25% below its 52-week high and 31% above its 52-week low, currently above its 200-day average. For context, the median of 10 Communication Services peers we cover trades at -13% fair-value upside, at -63%, AFFLE screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Growth DCF ₹490.98 ₹923.68 ₹1,650 80
Residual Income ₹246.71 ₹315.30 ₹952.66 76
Rev-Margin DCF ₹502.24 ₹842.87 ₹1,555 74
All 26 models by family
DCF Models
FCF DCF ₹515.33 ₹774.65 ₹1,623 38
Owner Earnings ₹527.42 ₹1,112 ₹2,395 31
5Y Revenue Exit ₹462.71 ₹748.58 ₹1,348 39
5Y EBITDA Exit ₹504.19 ₹832.49 ₹1,477 41
5Y P/E Exit ₹614.86 ₹1,303 ₹2,249 38
10Y Revenue Exit ₹470.79 ₹961.13 ₹1,284 36
10Y EBITDA Exit ₹516.69 ₹1,053 ₹1,991 37
10Y P/E Exit ₹599.29 ₹1,296 ₹2,461 35
Earnings-Based
Graham-Dodd ₹219.92 ₹1,534 ₹2,152 54
Lynch FV ₹792.36 ₹1,132 ₹1,472 50
PEG = 1.0 ₹792.36 ₹1,132 ₹1,472 46
EPV ₹363.39 ₹411.31 ₹453.90 59
Dividend Discount
Gordon GGM ₹5.55 ₹12.11 ₹20.37 70
DDM Multi-Stage ₹5.55 ₹9.92 ₹12.62 61
Multiples
P/E Multiple ₹533.63 ₹711.51 ₹889.39 63
P/S Multiple ₹412.35 ₹549.80 ₹687.25 58
P/B Multiple ₹412.35 ₹549.80 ₹687.25 55
EV/EBIT ₹506.28 ₹644.41 ₹782.54 53
EV/EBITDA ₹482.27 ₹612.40 ₹742.53 54
EV/Revenue ₹406.13 ₹540.81 ₹675.49 43
Asset-Based
NCAV (Graham) ₹129.84 ₹173.99 ₹259.68 50
Growth DCF
Growth DCF ₹490.98 ₹923.68 ₹1,650 80
Rev-Margin DCF ₹502.24 ₹842.87 ₹1,555 74
Economic Profit
Residual Income ₹246.71 ₹315.30 ₹952.66 76
ROIC Compounder ₹470.22 ₹669.07 ₹828.46 72
Growth Earnings
Growth-Adj P/E ₹1,052 ₹1,503 ₹1,953 68

Widest divergence: Growth Earnings (₹1,503) versus Dividend Discount (₹9.92). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) ₹27.1B
Revenue growth (YoY) +20.3%
Net margin 16.8%
Return on equity 13.8%
Free cash flow ₹3.3B FY2026
P/E ratio 50.8
More key figures
Operating margin 17.6%
EPS (TTM) ₹32.33
EPS growth (YoY) +15.7%
Net cash ₹12.8B FY2026

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 59/100

Of which business quality 61 · Market factors (momentum, volatility) 47

Profitability 51
Margins and returns on capital today
Quality Growth 45
Are margins and returns improving?
Cashflow 55
Earnings quality: real cash, not paper profit
Fin. Strength 100
Balance sheet, leverage, solvency risk
Investment 23
Disciplined investing over empire-building
Low Volatility 80
Calm price path (market factor)
Momentum 36
Price trend over the last 3–12 months (market factor)
52W Momentum 29
Distance to the 52-week high (market factor)
Net Issuance 71
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Affle 3i Limited, together with its subsidiaries, provides mobile advertisement services through information technology and software development services for mobiles in India and internationally.

Full company description

Affle 3i Limited, together with its subsidiaries, provides mobile advertisement services through information technology and software development services for mobiles in India and internationally. It operates Appnext, an app discovery platform that displays contextual and personal app recommendations; Mediasmart, an omnichannel programmatic advertising platform; Jampp, a programmatic platform to grow app business; RevX, a programmatic advertising for app marketers; and YouAppi, a programmatic mobile app retargeting solution. The company was formerly known as Affle (India) Limited and changed its name to Affle 3i Limited in April 2025. Affle 3i Limited was incorporated in 1994 and is based in Gurugram, India.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Affle 3i Limited reported revenue of ₹27.1B in FY2026 versus ₹10.8B in FY2022, a compound +25.8%/yr. Reported net income was ₹4.5B in FY2026, compounding +20.8%/yr from FY2022.

Growth Quality 100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2026)
₹27.1B
Latest YoY
+19.6%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+23.6%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+39.3%
Avg. growth/yr (12Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+54.3%
Revenue +25.8%/yr
FY22 ₹10.8B
FY23 ₹14.3B
FY24 ₹18.4B
FY25 ₹22.7B
FY26 ₹27.1B
Net income +20.8%/yr
FY22 ₹2.1B
FY23 ₹2.4B
FY24 ₹3.0B
FY25 ₹3.8B
FY26 ₹4.5B

AFFLE screens 63% overvalued. Compare with AppLovin Corporation →

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Cite: Fair Value Calculator (2026). "Affle 3i Limited Fair Value". https://www.fairvalue-calculator.com/stock/AFFLE

Peer Group

Advertising Agencies · 199 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 59 · Above median
Fair Value upside −63% · Bottom 25%
Return on equity (TTM) 14% · Top 25%
Return on assets 8% · Top 25%
Net margin (TTM) 17% · Top 25%
Operating margin (TTM) 18% · Top 25%
Revenue growth 20% · Top 25%
Debt / equity 0.00× · Lower than median

Valuation Multiples vs Advertising Agencies median · lower = cheaper

P/E (TTM) 50.8× · Pricier than 75% of peers
P/B 5.57× · Pricier than 75% of peers
P/S (TTM) 7.51× · Pricier than 75% of peers
P/FCF 0.6× · Cheaper than median
EV/EBITDA 31.2× · Pricier than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0 · sector 24
FUTURE 100 · sector 6
PAST 55 · sector 5
HEALTH 100 · sector 98
DIVIDEND 0 · sector 67

VALUE 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Advertising Agencies stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
AppLovin Corporation APP $303.76 $252.45 -17%
Publicis Groupe S.A PUB €99.98 €146.36 +46%
Omnicom Group OMC $85.51 $99.84 +17%
Focus Media Information Technology Co 002027 ¥5.29 ¥5.71 +8%
The Trade Desk, Inc TTD $13.49 $29.07 +115%
JCDecaux SE DEC €24.00 €20.99 -13%
Easy Click Worldwide Network Technology Co 301171 ¥37.40 ¥5.62 -85%
Mobvista Inc 1860 HK$11.04 HK$6.43 -42%
Guangdong Advertising Group 002400 ¥7.33 ¥1.14 -84%
Zhewen Interactive Group 600986 ¥8.24 ¥1.47 -82%

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Frequently asked questions

Is Affle 3i Limited (AFFLE) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of ₹611.48 versus a price of ₹1,643, about −63% (overvalued).
What is the fair value of AFFLE?
Our model-based fair value for Affle 3i Limited is ₹611.48 (as of Aug 13, 2026), built from audited fundamentals. The current price is ₹1,643.
What is the quality score of AFFLE?
Affle 3i Limited has a Quality Score of 59/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Affle 3i Limited (AFFLE)?
Affle 3i Limited reported trailing-twelve-month revenue of about ₹27.1B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of AFFLE?
The net profit margin of Affle 3i Limited is about 16.8%, meaning it keeps roughly 16.8% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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